Comment on Trump Bitcoin Conference fundraiser tickets top out at $844,600 for Nashville soiree

• shortwavesurfer@lemmy.zip ⁨3⁩ ⁨months⁩ ago

  Fair enough, I am curious. What do you see as its problems? I may or may not be able to help.

  source

  • qprimed@lemmy.ml ⁨3⁩ ⁨months⁩ ago

    • excellent algo - but not sure it properly weights botnets over CPU/GPU specialization.
    • heavy chain - monero utxos are some of the biggest out there and therefore probably bad for protection against node centralization (other chains are heavy, but compared to ecnomic activity, monero is lead)
    • lack of verifiable inflation rate - by its nature, monero make it almost impossible to do this.

    those are the ones off the top of my head. would love to have any mistakes.corrected.

    source

    • shortwavesurfer@lemmy.zip ⁨3⁩ ⁨months⁩ ago

      • the algo is CPU weighted and botnets actually help secure the network. (Though they may be ethically wrong)
      • yes the chain is heavy, however, to do mixing correctly means you use more txs and end up weighing just about the same
      • have you counted every bitcoin tx to verify they add up or do you rely on the software to do so? I would say most people rely on the software and the Monero software can count up the Monero that exist as well. So as long as there is no inflation bug in the software, we should be fine. And there’s no indication in the Monero price of such a bug.

      source

      • qprimed@lemmy.ml ⁨3⁩ ⁨months⁩ ago

        • algo - agree on the importance of general-ish purpose silicon to do the basking, but CPU algos are still vunerable to massivemy parallel, (potentially) free, undetected hash. as much as 51% attacks seem to draw a collective “meh” from the crowds, I bothers me.

        • heavy chain - not sure about the final tx product being less dense than a similar bitcoin tx. regardless, for the economic activity on the monero chain and, please correct me… an an increase of transaction frequency of average sized transactions would cause, at least, a linear increase in chain storage, correct? if so, I think my node centralization issue still applies.

        • inflation - its a real issue. the ability to audit the chain is pretty important to build trust. thats one of the reasons bitcoin has resisted private transactions, sending those to other layers. good, bad? who knows, but I get nervous around chains who’s very base layer is singularly opaque to an inflation bug and many others will outright reject it. not sure how devs fix this, considering monero’s (vital) core mission.

        monero is a fantastic bit of dev implementation and community interaction and one of the most important chains out there, I am just suggesting that its own (unavoidable?) issues could some back and bite… hard.

        source

        • -> View More Comments